Bitcoin has reached a new record high following Donald Trump’s victory in the presidential election.
A Historic Peak
On Sunday, the value of the digital currency rose to over $81,000, marking a historic peak and an impressive 6.1% increase in just a day.
Analysts believe this surge is fueled by Trump’s supportive stance on cryptocurrency during his campaign, according to Trend.
Throughout his campaign, Trump expressed strong support for Bitcoin and the cryptocurrency industry. He proposed that the United States consider building a strategic reserve of Bitcoin and position itself as a global hub for the crypto sector.
His statements have ignited enthusiasm among crypto investors, who are increasingly eager to buy Bitcoin and other digital assets.
The impact was especially notable among Bitcoin ETFs, investment funds that directly hold Bitcoin. These funds saw a record inflow of new investments the day after the election, according to EuroInvestor.
An Upward Trend
Bitcoin’s value has been on a remarkable upward trend throughout 2024, climbing 93% since the start of the year.
This new record shows how sensitive the Bitcoin market is to political changes, with Trump’s crypto-friendly stance potentially paving the way for increased investment in the sector.
Despite ongoing regulatory uncertainties, Trump’s election has renewed confidence among many investors, strengthening Bitcoin’s position in a time of rising interest in digital assets.
This boost may attract more mainstream and institutional investment into the cryptocurrency market, as investors look for new opportunities in the evolving financial landscape.
